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NewsUpdate AEON Credit 1Q profit jumps 36% y-o-y to RM56.3m
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Update AEON Credit 1Q profit jumps 36% y-o-y to RM56.3m
by Cals Fri 20 Jun 2014, 01:52
| Update AEON Credit 1Q profit jumps 36% y-o-y to RM56.3m |
| Business & Markets 2014 |
| Written by Jeffrey Tan of theedgemalaysia.com |
| Thursday, 19 June 2014 19:27 KUALA LUMPUR (June 19): AEON Credit Service (M) Bhd’s net profit jumped 36% year-on-year (y-o-y) to RM56.3 million in the first quarter this year from RM41.3 million. Revenue also jumped 39.6% y-o-y to RM200.9 million from RM143.9 million. In a statement, AEON Credit said it recorded higher financing volume in the reviewed quarter due to continued higher growth rates for car financing and motorcycle financing operations under favourable market environment. The credit services firm said its total financing receivables grew 43.3% to RM3.8 billion in May from RM2.7 billion in the first quarter a year ago. It added non-performing loans ratio was 2.18% as at May this year. “The company expects to be able to maintain its performance in the current fiscal year based on its business plan, including focus on new growth areas and branch network expansion, backed by stable economic outlook expected this year,” said AEON Credit. |
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